- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Agreed. However, when one enters the Roth solo 401K contribution, taxes shoot upward in TurboTax. It is the allowable, calculated contribution amount for a solo401K employee deferral portion. This is a double taxation in that the taxes have already been calculated having entered income and expenses for Schedule C and showing that income. Then, when entering the roth piece, taxes shoot up again on that income. The tax burden should remain flat with the Roth entry. Instead, turbotax re-taxes that amount.
March 10, 2024
7:15 AM